Cuban cleared by MLB to bid for Rangers

By Community | July 23, 2010

The owner of National Basketball Association (NBA) franchise the Dallas Mavericks, Mark Cuban, has been cleared by Major League Baseball (MLB) to make a bid for the Texas Rangers, his lawyer has announced.

Cuban hasn’t yet decided if he is going to bid for the Mavericks in an auction taking place on 4 August, but if he did, he would still need the support of the 30 MLB team owners to complete the sale.

Cuban’s lawyer, Clifton R. Jessup Jr., said: “The biggest obstacle my client has is we have 12 days to do all the due diligence.”

A group led by club president Nolan Ryan and Pittsburgh sports attorney Chuck Greenberg will lead the bid.

And while Jessup Jr. said Cuban would rather submit his own bid, he would be willing to team up with Ryan and Greenberg to speed the process up.